Respuesta :

IMBTSARMY

Answer:

The effects of specialization (and trade) include: Greater efficiency: Countries specialize in areas that they are naturally good at and also benefit from increasing returns to scale for the production of these goods. ... Consumers benefit from these lower prices and greater quantity of goods.

Specialization has led to an increase in trade nationally and internationally because countries can focus on producing goods that they are more efficient in producing.

  • Specialization is when a particular country produces the goods that it can produce more efficiently rather than producing all available goods.

  • Specialization is important for economic growth and development because countries are able to produce more goods efficiently and this will also lead to an increase in the gross domestic product of such countries.

In conclusion, specialization is of immense benefit to trade.

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